MeritValue

WEBUY GLOBAL LTD

WBUYdata completeness 75%5 fiscal years on file

Data notes: no data for concept 'capex'; no data for concept 'incomeTaxExpense'

The thesis, from the filings

WEBUY GLOBAL LTD earns about -414% on invested capital, and has bought back 96% of its shares over 5 years. The cash-flow models don't apply cleanly here — the ledger says why below.Whether it’s worth owning at today’s price is the last question — and yours to answer, below.

i. The business — what you’d actually own
FigureFY 2021FY 2022FY 2023FY 2024FY 2025
Revenue$22.3M1$44.6M2$50.8M3$50.9M3$18.8M3
Net income−$8.04M4−$6.66M5−$5.15M6−$6.62M6−$8.53M6
Operating cash flow−$3.99M7−$4.12M8−$7.16M9−$6.99M9−$2.93M9
Capital expenditure—————
Free cash flow (derived)—————
Total debt———$166,43810—
Cash & equivalents$1.54M11$1.55M12$5.39M13$4.15M13$3.06M14
Diluted shares38.4M41.7M406,883516,2351.4M

Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).

ii. Your slice — ownership made literal
If you owned
shares
Net assets behind them
$24.44
your share of equity
Profit it earned you last year
−$59.21
Free cash flow it threw off
—
Debt you’d be carrying
—

10 shares is a claim on $24.44 of net worth that earned you −$59.21 last year.

iii. Is this a good business?
Moat signal · return on invested capital
-414% avg · 5y
FY21 —FY22 —FY23 -215%FY24 -80%FY25 -945%

It earned an average -414% on invested capital over 5 years. Compare that to what it costs to fund the business.

seeing a moat in the numbers →
Management signal · capital allocation
−96% shares · 5y

Share count is down 96% over 5 years — management has been buying back stock, quietly handing owners a bigger slice. Total debt has held roughly steady.

reading capital allocation →

Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.

iv. What it’s worth — engine v0.1.0
DCF · Growth Exit 10Y
not applicable
only 0 years of FCF (need ≥3) — model not applicable
DCF · Growth Exit 5Y
not applicable
only 0 years of FCF (need ≥3) — model not applicable
Earnings Power Value
not applicable
normalized (5y-median) earnings non-positive — EPV undefined
Graham Number
not applicable
diluted EPS missing or non-positive — Graham Number undefined

Different models answer different questions — which to trust when →

Sources — the receipts
  1. 20-F · period ending 2021-12-31 · accession 0001213900-24-032987 (Revenues)
  2. 20-F · period ending 2022-12-31 · accession 0001213900-25-033933 (Revenues)
  3. 20-F · period ending 2023-12-31 · accession 0001213900-26-049395 (Revenues)
  4. 20-F · period ending 2021-12-31 · accession 0001213900-24-032987 (NetIncomeLoss)
  5. 20-F · period ending 2022-12-31 · accession 0001213900-25-033933 (NetIncomeLoss)
  6. 20-F · period ending 2023-12-31 · accession 0001213900-26-049395 (NetIncomeLoss)
  7. 20-F · period ending 2021-12-31 · accession 0001213900-24-032987 (NetCashProvidedByUsedInOperatingActivities)
  8. 20-F · period ending 2022-12-31 · accession 0001213900-25-033933 (NetCashProvidedByUsedInOperatingActivities)
  9. 20-F · period ending 2023-12-31 · accession 0001213900-26-049395 (NetCashProvidedByUsedInOperatingActivities)
  10. 20-F · period ending 2024-12-31 · accession 0001213900-26-049395 (ShortTermBorrowings)
  11. 20-F · period ending 2021-12-31 · accession 0001213900-25-033933 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)
  12. 20-F · period ending 2022-12-31 · accession 0001213900-24-032987 (CashAndCashEquivalentsAtCarryingValue)
  13. 20-F · period ending 2023-12-31 · accession 0001213900-25-033933 (CashAndCashEquivalentsAtCarryingValue)
  14. 20-F · period ending 2025-12-31 · accession 0001213900-26-049395 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)